Concept and Importance of Intellectual Property

Table of Contents

Intellectual Property

Intellectual Property is the area of Law that, by means of laws, guarantees inventors or those responsible for any production of the intellect, be it IMMATERIAL or INCORPORATE GOODS in the industrial, scientific, literary or artistic domains, the right to obtain, for a certain period of time, resulting reward for “creation” – intellectual manifestation of the human being.

Intellectual property makes it possible to transform knowledge, in principle a quasi-public good, into a private good and is the link between knowledge and the market.

Types of IP rights

Therefore, Intellectual Property encompasses the field of Industrial Property, Copyrights and other Rights over immaterial goods of various kinds, such as Related Rights.

Copyright

It is the right that basically derives from the authorship of intellectual works in the literary, scientific and artistic field, examples of which are: drawings, paintings, sculptures, books, conferences, scientific articles, journalistic materials, music, films, photographs, software, among others.

Industrial property

Industrial property has its focus of interest turned to business activity. Its patent object is invention and utility model, brand, industrial design, geographical indication, industrial secrecy and the suppression of unfair competition, being regulated by Law No. 9,279 / 96. Industrial property encompasses a set of rights and obligations related to intellectual property, the object of industrial activity by companies or individuals. It guarantees its owner (right holder) the exclusivity of: manufacture, sale, import, use, sale and assignment.

Sui generis protections

With the emergence of new intellectual creations, the possibility of incorporating new modalities of law to protect these creations is being expanded. These intermediate legal figures between Industrial Property and Copyright are called “legal hybrids”

Importance of intellectual property

Intellectual Property is considered one of the main drivers of the globalized economy. It characterizes the recognition of legal forms of appropriation of human knowledge, both the materialization of the insights or fruits of human creativity, as well as the results of research and technical knowledge that materialize in a new or modified product.

In a broad sense, Intellectual Property Law protects the kinds of intellectual creations that can result in commercial exploitation or economic advantage for the creator or holder and in the satisfaction of the authors’ moral interests, that is, what the standard protects is not the idea (understood as an incorporeal object), but the materiality of an idea. Property rights arising from intellectual property are temporary and must respect the principle of territoriality.

Ensuring Intellectual Property Rights is crucial so that creative ideas and innovations are well protected in order to guarantee their commercial exploitation.

Why protect intellectual property?

Intellectual assets must be legally protected, like any other property in a company or institution, like any other physical asset, (conferred by an invoice or a deed and registration of property). You need to obtain legal ownership of an invention to be able to exploit it, license it or sell it to third parties.

The purpose of Intellectual Property Rights is to prevent the use, manufacture, sale or import of a similar product within the scope of its protection.

What should be protected?

Defining the intellectual assets subject to protection, as well as the form of protection afforded to each of these assets, is mainly a strategic measure inherent to the innovation management activity in an institution.

A policy for the protection of Intellectual Property Rights includes assessing the innovative and technological potential and deciding how to protect knowledge, using one or more legally possible resources.

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